Looking to start Wholesaling

[Mike Mahoney]

I've been interested in Real Estate in general for a while, so about 6 months ago I took the salespersons course. I've been studying for the state exam but about a week ago I was introduced to the concept of Wholesaling. I was immediately intrigued, so I've been online researching the topic nonstop. With that said, now that I've done my homework, I want to get into the business. Almost every website, blog, etc. mentions that anyone new to Wholesaling, or just real estate investing in general, should seek out some sort of a guidance, and I'm more than open to any and all forms of help.

Before you ask, no, I haven't done any marketing yet. I'm brand new to learning about the concept of Wholesaling, so I guess this post could be considered my first bit of marketing. 

I'm also very serious about wanting to, not only learn the business, but be successful enough to make it a career. I'm certainly not here to waste anyone's time. Sorry for the lengthy post and thanks in advance!

[Jason M Pagan]

@Mike Mahoney I'm in Western Ma and also a starting wholesaler as well, also looking into buy and hold and rehabs. I'll be going LIVE this week with my business.

I would like to suggest some Podcast episodes I found helpful as I was starting to gather knowledge but ALSO continue to research wholesaling by just going thru old forum posts, blogs and other educational sources on this site. And try to find Meetings to attend, get the "Meet UP" App if you haven't already along with all the benefits of BPs.

The Book on Investing in R.E. with NO/Low Money Down - B. Turner

Biggerpockets.com/ubg   (to start)

Bigger pockets.com/direct-mail

Biggerpockets.com/dmletter

BP Podcast #12, #18(flipping, mkting, and wholesaling w/ **Danny Johnson aka Flippingjunkie - get his podcast!), #96, #196, #197, #218 

Another great podcast must is Michael Quarles R.E. Show - he has some great strategies for consistency and mkting!! And he's gives it to you like it is! You want to go after it, GO. AND. DO. IT. His also has some great posts on Listsource Criteria, him and others.... just research it on BP and gather your own thoughts.

The R.E. Wholesaling Bible - Than Merrill: Not a main source but reinforced some good marketing ideas, website musts and overall strategies for Wholesalers... a Good and quick read.

Start collecting your books! I always suggest THE ONE THING (Keller) if you haven't read it already... and follow it up with the The 7 Habits(Covey) and get that laser beam focus!

Try and gather a good list to start, whether 200, 700, or 2000 people to mail to, get some DM mail in there and stay consistent- usually 6 mth campaigns. Strategies to gather this list; *Listsource or other online sources: RESEARCH Absentee and Owner-occupied as per your criteria that may fit your NEEDS and this takes hours and hours to do, and trial and error. I'll find out in the coming months how good my Listsource list was and I easily spent over 20 hours and multiple attempts before purchasing and correcting the list I felt good about. 

*D4D: Drive 4 Dollars, dedicate your time, wkend hours, but stay consistent with this method to look for the distressed, neglected, vacant, desirable properties you want. Do your research through the assessor sites and add to your list.

*Craigslist/online sites: Hunt down "mom n pop" type landlords who are putting For Rent Ads and Look into a "cold call strategy" in the forums, or if addresses are given, research and mail. I also keep track of properties on R.E. sites that have been listed too long, dropped in price multiple times, and pulled off the mkt and I'll research/mail to them. 

*Look into Probates, Estate Sales, Inheritance homes: I'm just starting to dig into these areas but you have to stay on top and do some dirty work because it seems these methods bring some serious competition from the local guy and big companies.

I am no PRO but READ, READ and READ more. After some more research or NOW, figure out your Target homes, price range, your How and Why. What I have also been told many times, find something you're great at that separates you from the rest... Hustle, advertising and mkting, knowing where to find those off-market properties for investors - that's what it's all about! 

Get your list, mkt to them, use other strategies such as cold calling, face to face mkting, Online Craigslist and Backpage Ads, be consistent, look into some phone scripts, Repair costs, Rehab costs, ARVs and BUILD your network! Talk to Agents, wholesalers, INVESTORS (and start taking notes NOW of what people are looking for or specialize in), local individuals/small companies that may be mentors or answer questions provided you're doing YOUR HW! Attend any and all meetings and get yourself out there. But DEF DO IT! Don't rush it but when you feel you have a list, MARKETING CAMPAIGN STRATEGY, and some things in place... just go for it!!! 

I tried to look through some notes without taking too long or writing forever but I hope some of this helps. You can connect with me if you'd like and leave me a message. 

Hope I helped a little, HAVE A GREAT DAY! DO. IT.